First-Time Buyers5 min read
First-Time Home Buyer's Guide to Getting Pre-Approved
Learn the essential steps to get pre-approved for your first mortgage and what documents you'll need to prepare.
January 15, 2025
Securing your future, one home at a time
Let's discuss your mortgage needs and find the perfect solution for you.
Specialized programs designed for first-time buyers with low down payment options starting at just 3%. Access down payment assistance grants, closing cost credits, and personalized guidance through every step of your homeownership journey. We help you navigate credit requirements, pre-approval, and choosing the perfect loan structure.
Strategic refinancing solutions to lower your monthly payments, reduce your interest rate, eliminate PMI, or access home equity for major expenses. Whether you want to switch from ARM to fixed-rate, consolidate debt, or shorten your loan term, we'll analyze your situation and find optimal savings opportunities with competitive closing costs.
Premium financing for luxury properties exceeding conforming loan limits ($766,550+ nationally, $1.1M+ in high-cost areas). Competitive rates on loans up to $5M+ with flexible down payment options from 10-30%. Ideal for high-net-worth buyers purchasing estates, luxury condos, or investment properties in premium markets like NYC, Long Island, and Hamptons.
Government-insured mortgages perfect for buyers with limited savings or credit challenges. Qualify with credit scores as low as 580 and down payments starting at just 3.5%. More lenient debt-to-income ratios, flexible underwriting guidelines, and the ability to include gift funds make this an excellent option for first-time buyers and those rebuilding credit.
Exclusive zero-down-payment mortgages for active military, veterans, and eligible spouses. No PMI required regardless of down payment, competitive interest rates, limited closing costs, and more lenient credit requirements. Full entitlement allows up to $766,550+ with no down payment. Refinance options include streamlined IRRRL and cash-out programs.
100% financing available for eligible properties in rural and suburban designated areas (including parts of Long Island and upstate NY). Zero down payment required for qualified buyers, below-market interest rates, low mortgage insurance costs, and flexible credit guidelines. Income limits apply based on household size and location—check your eligibility today.
Debt Service Coverage Ratio loans specifically for real estate investors purchasing rental properties. Qualify based on the property's rental income rather than personal income or tax returns. No income verification required, loan amounts up to $3M+, and the ability to finance multiple investment properties simultaneously. Perfect for portfolio expansion and 1031 exchanges.
Alternative documentation mortgages designed for self-employed borrowers, freelancers, and business owners. Qualify using 12-24 months of personal or business bank statements instead of tax returns. Ideal when your tax write-offs reduce reported income but cash flow is strong. Loan amounts up to $3M+ with competitive rates and flexible underwriting.
Streamlined financing for business owners using current year profit and loss statements prepared by your CPA. No tax returns required—perfect when current income is higher than previous years. Fast approval process with less documentation, loan amounts up to $2.5M, and ability to qualify with recent business growth that hasn't yet been filed on tax returns.
"As a single mother working two jobs, I never thought I could afford a home. Dani took the time to understand my complete financial situation and found a first-time homebuyer program with a 3% down payment option that I qualified for. He even helped me secure a $5,000 down payment assistance grant from the state. The entire process took only 35 days, and now my daughter has her own bedroom for the first time. Dani didn't just find me a mortgage—he changed our lives. His compassion and expertise made the impossible possible!"
Learn the essential steps to get pre-approved for your first mortgage and what documents you'll need to prepare.
Discover the key differences between fixed and adjustable rate mortgages and which option might be best for your situation.
Current market conditions and scenarios where refinancing could save you thousands on your mortgage payments.
Navigate the complexities of jumbo loans for luxury properties in New York City and Long Island markets.
Understanding how credit scores influence mortgage rates and practical tips to improve your score before applying.
Explore various down payment options and programs that can help you buy a home with less money down.
Call or email Dani directly to discuss your mortgage needs.
Phone: (718) 926-9140
Email: DaniM@tcbfunding.com
Business Location:
TCB Funding
15 Atlantic Ave #102
Lynbrook, NY 11563
Dani Mullaev NMLS #2469250
TCB Funding Company NMLS #1853402